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DAILY MARKET REPORT

The beverage and snack giant Pepsi (NASDAQ: PEP) is scheduled to announce second-quarter financial results on Tuesday before the bell.

DAILY MARKET REPORT

The beverage and snack giant Pepsi (NASDAQ: PEP) is scheduled to announce second-quarter financial results on Tuesday before the bell. Consensus forecast EPS of $1.53 on revenue of $17.98 Billion. Pepsi stock reached a new all-time high of $150.70 last week, the bullish rally supported by strong demand for sports drinks.

EQUITIES

Asian stocks traded higher on Monday following the release of upbeat Chinese trade balance data. The data showed China’s June trade surplus increased by $51.50 billion and June Exports grew by 32.20%. Meanwhile, the US stock futures trading unchanged ahead of the release of US banks Q2 financial results. 

OIL

Crude oil prices recovered from the previous session losses ahead of US API inventory data. However, the overall momentum remains mixed as the Oil traders continue to assess the spread of the Delta coronavirus variant and fresh updates from OPEC+.

CURRENCIES

In the currency market, the Euro slips against the dollar on Tuesday after the release of German inflation data. On the other hand, the Asian currencies like the Australian dollar and New Zealand dollar climbed to a fresh session high boosted by strong Chinese economic data.  

GOLD

The Safe-haven metal trading steady above $1800 on Tuesday ahead of US inflation data, which is set to be released at 12.30 GMT.

Economic Outlook

On the data front, Germany released the June Inflation figures. The inflation dropped to 0.4% in June from a 0.5% increase in May.

Coronavirus update:

Worldwide, more than 187 million people have been confirmed infected and more than 4 million have died. The United States has confirmed over 33.8 million cases and has had more than 607,000 deaths from COVID-19, the highest totals in the world.

Technical Outlook

GBPUSD: The British pound retreat back to near the previous session lows after the Bank of England released a mixed financial stability report on Tuesday morning.

euraud

The important levels to watch for today: Support- 1.3840 and 1.3800 Resistance- 1.3900 and 1.3940.

GOLD: The yellow metal hovers near the $1810 area. The near-term resistance is around $1820, any break over targets $1825/$1832. On the downside, the first immediate support around $1800 followed by $1795/90.

gold neww

The important levels to watch for today: Support- 1800 and 1790 Resistance- 1820 and 1830.

Quote of the day: Investing money is the process of committing resources in a strategic way to accomplish a specific objective. – Alan Gotthardt.

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DAILY MARKET REPORT

DAILY MARKET REPORT

“We need to use the tools we already have to prevent transmission and save lives from Delta. And if we do that, we will also prevent transmission and save lives from Omicron,” - WHO chief Tedros Adhanom Ghebreyesus said.

DAILY MARKET REPORT

DAILY MARKET REPORT

US Dollar hits a fresh 16-month high ahead of one of the most awaited economic events of the week, Minutes from the Federal Reserve's November meeting and US GDP figures.